Hi, I was beginning a house purchase when the exchange rate dropped. I went quiet hoping it would bounce back but it has continued to fall. I explained to the estate agent I could no longer afford to go through with it. He tried pushing me saying there were others interested, so I said let them have it then. The property is still on his site, back at the full asking price. I have contacted the agent by several methods to say If there is no other interest, if they still want a sale could he renegociate a more affordable favourable price . I have passed this on o the notaire as well, but I have not received any reply. I have not signed the compromis de vente. Am I hoping for too much ?
Does anyone know of lowish budget properties for sale or to let, in 17 between Saintes and Royan ? I do not want a renovation project. A two or three bed property with good size garden, quiet area with public transport and facilities close by
I would be tempted to make a revised offer to see the reaction. The ÂŁ fell by approx 10% so you could see if a 10% lower offer is accepted rather than just ask for a reduction.
Given that you had previously made an offer, withdrew that offer, and now want a second bite at the cherry, you would probably need to be more direct with the agent and propose a value at which you would be prepared to buy the property, rather than just ask the agent to renegotiate a lower price.
Old French houses in rural areas can take many years to sell.
There are financial incentives for French people to buy new properties. So the market for old houses depends to some extent upon UK buyers and there arenât many of those around just now.
French inheritance laws require that all children get a share if the property is inherited. Family disagreements often arise. One may want a quick sale, another might prefer to wait for a better price and a third might have preferred to keep it as a shared holiday home. It might take a while for all of them to agree to a lower price. Some houses can remain unsold for 10 years!
At the moment there is a certain amount of buying interest from apartment dwellers who felt trapped by the lockdown and fancy the idea of a country retreat. No way of knowing if that will continue.
If you havenât set your heart on a particular property, you could be in a very strong position. Cut out the middle man, forget the agents and look to buy through the local notaires. Make cheeky offers on half a dozen properties and go with the first one to agree to your price. You could end up with a bargain!
Canât help you with exchange rates. Used to go up and down, up to 20% either way, but in the last 20 years Sterling has fallen 40% against the Euro. Will the slide continue? Nobody knows.
if the house is being sold by an estate agent the notaire would not get involved until there is an agreement and it move to compromis de vente stage.
If youâve pulled out of a sale once then you may have to work to persuade the agent to take you seriously now.
There are lots of sites that give estimates of the price per sq metre of different types of property in different departments. That plus some research on estate egents sites in the areas that interest should give you a good idea
Thank you. I have looked at the selection from the notaires. I still think the house I like is the best out of the lot. The estate agent hasnât replied since I calculated a new offer as suggested. Should I make the revised offer to the notaire as well now ?
I think you may be looking at this from a Sterling perspective Veronica while nothing has changed from the sellers euro centric perspective. Having said that, thereâs never any harm in lobbing in a speculative bid. The worst they can say is no. Hereâs hoping you get a bargain.
Yes, but thereâs only one notaire, unless on goes exclusive there are loads of agents pushing your property. If I wanted to sell Iâd have to consider going exclusive or not but I would bother my barney with a notaire.
Thank you all
I have checked the sites, the property has gone now. It had been on with two agents, 133000 and 140 000 euros
The buses are excellent within Saintes. 10 rides for 9.99Eur or monthly and annual passes. Comfortable and fast. There are trains in four directions too ! Saintes is known for having a large number of associations, markets take place somewhere every day. Dans Lâoeuil du Silo has alternative markets, and is a music venue. I have since found out it is cheaper to hire a car for a day than take a taxi across town.
I have had to nibble significantly into my budget to live on for 11 months before coming away in March. I am left with around ÂŁ125 000 max to spend, leaving some left for repairs and some savings.
Canât really agree with you there Mike. Iâve been running an Estate Agentâs for the past ten years selling country properties, gites and B&Bs ⊠and have sold to very few British clients. Vendors have often been Brits but buyers are overwhemingly French, Belgian and Swiss.
Unfortunately the old chestnut of rural France being dependent on British buyers is proving tenacious: many of my British vendors are convinced that a fellow countryman will buy their property ⊠and are somewhat miffed and sulky when it turns out to be a French buyers.
In reality, British buyers represent less than 0.5% of properties sold in France.
Why the emphasis on âoldâ ? The house I liked was 1950s, it had a lovely huge garden, lots of retro features. I could have moved in straight away. It was on a calm one way road in a residential area within five minutes cycling distance from town. Thereâs a big exhibition and events hall where I have been invited to have a stall this year by the organisers of Talents de Femmes. I need somewhere positive to live to concentrate on my project, not be faced with a pile of rubble in the sticks.
Retro features is old surely?
In the 50s fuel was cheap and they had no idea of insulation.
I have known people very glad to move out after a couple of years of winter bills.
It really is a good idea to rent for a year before deciding on what you want. Could save a costly mistake.
It didnât have high ceilings and damp, water running down the walls and terrible mildew like a rental property I was in. It had modern double glazing throughout. I have noticed that the emphasis is on natural wood heating, electric heaters are for supplementary heating ? By retro I mean it had character features from the 50s, original tiled floor in the kitchen, a ballon chasse dâeau (new to me), 50s light fittings. I had a quote for opening up the chimney for a woodburner. No âjeuâ in the wooden flooring or dog-leg stairs. I like character , not damp and crumbling construction or high ceilings. ,
Btw are landlords allowed to let property in such terrible conditions for health? Apparently some English had been the previous tenants of the rental property. I found that difficult to believe with having to constantly clean off the mildew. Iâd have been too ashamed to let it !!!
